Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 17 February 2024 12:50 am

  BoE’s Pill: Weak UK activity puts no significant pressure on inflation

  

  Bank of England Chief Economist and Monetary Policy Committee member Huw Pill gave talking points while participating in a panel discussion at the Annual National Association for Business Economics Economic Policy Conference, in Washington DC late Friday. Key Quotes UK labour market remains tight, driven by both weak supply and …

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• 17 February 2024 12:14 am

  GBP/USD surges on strong UK data despite mixed US data

  

  Amid evident US data volatility, the GBP/USD pair is rising on the strength of strong UK retail sales data that is above expectations. The US PPI increased more than predicted, pointing to continuous inflation; the UK’s sales boom indicates consumer optimism.A cautious stance on inflation by the Fed weakens the …

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• 16 February 2024 10:27 pm

  S&P 500 is trying for sixth-straight winning week

  

  US Stocks are little changed on Friday after another hot inflation report stoked fears that Federal Reserve rate cuts may not arrive until later than anticipated this year. The S&P 500 and Dow Jones Industrial Average teetered around the flatline, while the Nasdaq Composite slid 0.2%. The producer price index …

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• 16 February 2024 8:17 pm

  Fed’s Bostic: Expecting two rate cuts in 2024

  

  Federal Reserve Bank of Atlanta President Raphael Bostic told CNBC on Friday that his outlook is for a reduction in policy rate in the summer time, per Reuters.The US Dollar Index showed no immediate reaction to these remarks and was last seen posting small daily gains at 104.33.Bostic noted that …

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• 16 February 2024 7:44 pm

  EUR/USD falls as PPI signals policy tightening

  

  The EUR/USD pair has fallen to 1.0759 as US inflation data surpasses expectations, indicating sustained Fed attentiveness. January’s Producer Price Index (PPI) increased 0.3% MoM, exceeding estimates, while the core PPI also beat forecasts, jumping sharply to 0.5% MoM from -0.1% in December. The ECB’s cautious approach to rate cuts …

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• 16 February 2024 5:41 pm

  US Core Producer Price Index Surges, Exceeding Expectations

  

  In January 2024, the US core producer price index, which excludes food and energy costs, experienced a notable surge, rising by 0.5% compared to the previous month. This robust rebound marked a significant turnaround from the 0.1% decline observed in the preceding month, surpassing market forecasts that had anticipated a …

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• 16 February 2024 2:50 pm

  Dollar Slips Amid Strong US Data but Anticipation of Fed Rate Cut Persists

  

  The US dollar faced a second consecutive session of decline on Thursday, following the release of a mix of robust US economic data. However, market sentiment remains geared towards the Federal Reserve’s potential interest rate cut in June, marking the first adjustment since the onset of the Covid-19 pandemic. Dollar …

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• 16 February 2024 1:36 pm

  Turkish Lira Faces Significant Decline Amid Economic Uncertainties

  

  The Turkish lira experienced a notable decline in trading on Friday, nearing the threshold of 31 lira against the US dollar. This downturn comes amidst ongoing economic challenges and concerns over inflationary pressures. Government’s Optimism on Portfolio Flows: Turkish Finance Minister Mehmet Simsek expressed optimism regarding net portfolio flows to …

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• 16 February 2024 12:47 pm

  Positive Retail Sales Data Boosts British Economy

  

  Data released by the National Bureau of Statistics in Britain on Friday morning revealed a positive uptick in retail sales during January, signaling encouraging signs for the country’s economic recovery. The report indicated a notable growth in retail sales, surpassing market expectations and showcasing resilience amidst ongoing economic challenges. Annual …

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• 16 February 2024 12:46 pm

  Turkish Finance Minister Optimistic About Portfolio Flows and Collaborations

  

  During a Turkish-Saudi investment and business forum in Istanbul, Turkish Finance Minister Mehmet Simsek expressed optimism about the trajectory of net portfolio flows to Turkey, noting an increase in the second half of last year. He further anticipated an acceleration in these flows following local elections scheduled for the end …

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• 16 February 2024 12:45 pm

  Nikkei Index Nears All-Time High, Hits 34-Year Peak

  

  Nikkei’s Historic Surge:Japan’s Nikkei index surged to its highest level in 34 years on Friday, edging closer to surpassing the all-time high reached during the country’s economic bubble era in the 1980s. The index breached the post-bubble economic era’s previous peak, setting the stage for potentially eclipsing the record set …

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• 16 February 2024 10:40 am

  Gold Under Pressure Amid Shifting Rate Cut Expectations

  

  Subdued Performance Overview:Gold faces downward pressure for the second consecutive week on Friday, as unexpected upticks in US consumer prices prompt traders to reassess their outlook on interest rate cuts. However, the precious metal sees a partial recovery following a decline in consumer spending. Gold Price Movement:Spot gold settled at …

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• 16 February 2024 10:14 am

  Oil Prices Reflect Mixed Sentiment Amid Economic Data and Demand Concerns

  

  Subdued Movement Overview:Oil prices displayed a mixed performance on Friday as market participants weighed expectations of slowing demand against hopes for potential interest rate cuts in the United States. Brent crude futures experienced a marginal decline, while US West Texas Intermediate crude futures saw marginal gains. Price Dynamics:Brent crude futures …

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